Chinese battery manufacturer Leoch has announced an agreement to invest in DBS Energy, a leading British battery specialist. A result of the agreement is the formation of a new company, DBS Leoch, which will be given the opportunity to grow significantly and could become one of the leading suppliers of batteries to industrial sectors in the U.K.
Leoch did not disclose the sum of the investment to pv magazine.
DBS Energy, has been supplying batteries to Leoch for seven years already. This new agreement will now enable DBS Leoch to maintain a larger stockholding share to meet customer demand, which should help boost the company’s sales while strengthening operational and technical support functions, the company said.
Director of Leoch, Malcolm Howes commented, “DBS Energy has been a long-term partner for Leoch in the U.K. and we’re delighted to extend this strong relationship further by directly investing in the company to drive business of our industry-leading batteries through their U.K. networks.”
Managing Director of DBS Leoch Henry James, added, “This agreement with Leoch confirms its commitment to DBS Energy and to expanding in the U.K. battery market. It provides us with a strong business platform to achieve our ambitious growth strategies. We’re really excited about working with Leoch to drive this growth and our aspiration to become the battery provider of choice to U.K. customers.”